Which of the following is true of Barbara's plan to continue with disbanding the corporation over Willy's objection?
A) She could not continue with her plan because unanimous approval of shareholders was required.
B) She could proceed with her plan.
C) It is unknown if she could proceed with her plan because Willy's agreement was essential if he owned more than 30% of the company's shares.
D) It is unknown if she could proceed with her plan because Willy's agreement was essential if he owned more than 20% of the company's shares.
E) It is unknown if she could proceed with her plan because Willy's agreement was essential if he owned more than 10% of the company's shares.

Question

Quizplus · Accepted Answer

When voluntary dissolution is at issue, the directors can initiate the proposal and submit it to the shareholders for a vote, or the shareholders can begin dissolution procedures. Either way, for dissolution to be successful, shareholders must unanimously vote for the proposal.

Which of the Following Is True of Barbara's Plan to Continue